 of T F N N trade what you see with Larry Pezzavento call now toll free at 1-877-927-6648 or internationally at 727-873-7618 now Larry Pezzavento okay looking good Billy Ray feeling good Lewis I posted a chart up here is hourly hourly chart of the gold as you notice here we had this Gartley drawn in here at the 61% retracement there 208 now the difference is it went up to the 78% level but if you would go over to the left over here you'll see this was a head and shoulders pattern there's your left shoulder your head your right shoulder coming in right there at your 78% level and from there it dropped $30 folks this is tells us that we still are hitting lower in the gold market double-check the trade what you see newsletter you'll see that there's a very very important ABCD down there at the level of 1947-1948 today's big move in silver we hit $26 and then we broke a dollar an ounce today in silver which also tells us that we're moving down and if you also follow the platinum market the platinum also had a pretty big break on Friday and it is continuing I'll bring this up so you can take a quick look at it because these are just corrections folks in a bull market this is a top but how much of a top we're gonna get I don't know but those are just ABCD you see what right up to the 78% level of the high we made last January so the tells us just a correction that's all it is and it's over very overbought because it's been up like eight eight weeks I believe no ten weeks in the platinum so it's had a huge run in that direction so very very important to pay a close attention to that now I wanted to do one other thing here that I think is relatively important because this is the one that everybody is talking about and I want to get this to your attention the best I can so let's hold on here for a second this is the E-mini S&P futures okay and this is what we're going to be looking at here you'll notice that we had these days of course we had this move here this is where we backed off to the exact 382 that was there on the 26th now we have taken all this out now folks we have exceeded these levels here we did get above that 205 level high was 206 and change so we took that out so that's going to be important this market explodes to the upside and keeps going because if it doesn't and if it doesn't that is nothing more than a false breakout much like what you had right here looked like it was going to go up forever and well forever happened to be the next day and then down she came so and we've got some pretty strong cycle stuff coming up along with the fundamentals we got the Fed coming in on Wednesday and the non-farm payroll coming in on Friday so all of those will be really important and back to the charts I wanted to bring a one up that everybody keeps asking about hold on one second it doesn't start with that it starts with this one right here I wanted to show you copper as you know Dr. Copper usually gives you a pretty good idea of what's happening in the market here and as you can see during this last run up copper did not follow through you see it's been going down we had a little two-day bounce and that didn't last very long so that's all this is telling you now that this market because we do have a one three five pattern here could be heading to the downside there's two other things that you have to pay really close attention to if you're following the stock market because you know it's a market of stocks not a stock market but the one that is the most bearish and I want to get this up here and show it to you this is the Dow Jones transportation now one of my favorite books happens to be reminiscences of a stock operator by Edwin LeFever and he always says in that book sell the weakest and sell the weakest and buy the strongest and the Russell as you can see here with this one three five pattern right at the three eight twos been the weakest we hit it one two three times that's where we went short the third time and even during this monster rally that we had in the Dow Jones up six hundred points in the S&P up a hundred and handles from the bottom all this could do was make a three eight two ABCD pattern and I matched it at seventeen eighty five and we sold it at twenty eighteen eighteen I think eighteen fifty eighteen twenty eighteen fifteen and so that was telling you that the market is much much weaker now there's another chart in here that was really surprising to me when I did it over the weekend because I didn't think that it was you know as bad as that but that is the Dow Jones transportation and we're going to have Stan Harley on Wednesday he follows this very very closely he'll give us a pretty good idea of what we're looking at but look at the transportation folks now this is a as you can see here it's a really interesting chart you know going back for quite a while but you'll notice here it's a daily chart you can see the ABCD coming down right to the spot where it was supposed to be there as an ABCD up then it has this big break just like we did here coming in on the twenty sixth you see we're almost making a new low and this is all we can do is a little two-day rally why wasn't this thing making new highs when the rest of it was that's not a sign folks here this is how goods are moved you know airplanes moving people supplies all that stuff so that's not a good sign this thing should be way up there so there's two indices that are a little trouble that doesn't mean they can't catch up and they could but it's a Russell and also the Dow Jones transportation they're leading if you remember back in the days of the the Dow theory with Richard Russell you know they had to all be going together the utilities the Dow Jones and the transportation's in order to keep the market going but you know things have changed so much because of the ETFs and stuff you can't use that anymore it just it's become antiquated I imagine somebody can still use it I happened to not be one of them so that's pretty much what we're paying close attention to but those numbers that we're looking at are important and whether they break through to the upside or don't break through to the upside is what's really what's really important over a period of time going back to the futures market folks there's a big one that's going on right now I just want to get this up here folks when I look at this chart I have to tell you that anybody that listens to fundamentals they ought to go back and rethink what they're thinking about because look at this folks this is when it was going limit up okay we we're we've dropped in half folks look at this we're out so we today we had 614 in the ABCD and this is 601 I mean I mean this is dropped in half from 13 and change down to 614 a bushel something's not right I mean now they're telling us that you know there's the week's gonna go to zero well not that bad but I mean look at this this thing is below on the long-term weekly chart and I do believe I can bring that up to you because I thought that it would be a buy today at 1620 excuse me 620 so I said yep I think if you've been waiting for this you want to be a buyer of the weed at I think it was 622 fortunately you've got to use a stop of about 15 cents and we'll get it up here to take a quick look at it and you can definitely say that without a doubt this is what we call an oversold market so that's what we're looking at so I believe the number on the daily was 1620 in the July wheat is the one we were buying this happens to be the May wheat but the July was at 1620 the last I saw was 618 and three quarters but we'll see what's going on here if you have any questions 877 927 6648 we'll be right back currencies commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe which is why it's a great time to try out teddy keg stats tiger forex report teddy keg stat breaks down the forex markets every monday using his 30 plus years of experience as a trading veteran of futures forex stocks and options teddy releases his weekly tiger forex report every monday morning with coverage of all the major currency pairs including the dollar index the euro dollar pound dollar dollar swiss dollar yen as well as many more and he also has weekly coverage of the crude oil market and the 30 year debonds as they both influence forex markets tremendously when you sign up for the tiger forex report you also gain instant access to teddy 60 minute webinar archive he just hosted forex strategies and fundamentals what is behind the tiger forex report for all the details and to start your 30 day tiger forex report subscription today visit the front page of tfnn.com tfnn educating investors tfnn has just launched their new trading room the tiger's den hosted at discord tfnn has been educating traders for more than 20 years with live programming hosted by a variety of professional traders during market hours and now they are expanding their reach with the tiger's den available to all tigers and tigers for just one dollar for the year there's no cash or added costs when you join our community of traders in the tiger's den you can look over the shoulders of tom o bryan and the other tfnn hosts while they analyze charts during their live tiger tv programs and join an interactive trading community with hundreds of members exchanging ideas interact with other tigers and tigers as they share trading ideas news analysis and discuss the market action all trading day even at night and on the weekends the tiger's den at discord is accessible on mobile or tablets as well so it's always at your reach to sign up today and become a part of this educational community of traders just visit the front page of tfnn.com are you looking for a way to consistently add winning trades to your portfolio tom o bryan is here to help tom o bryan has been successfully trading markets for over 30 years a frequent contributor to tedia merit trade network in cnbc tom o bryan founded tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the markets open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis in our gear to deliver comprehensive strategies for a successful portfolio get tom o bryan's newsletter market insights today and try all of our products and newsletters 30 days risk free with our money back guarantee at tfnn.com tfnn educating investors at 1-877-927-6648 internationally at 727-873-7618 okay folks i posted the abcd chart that i put in here when the market was up there at 4205 just to make it bring a point because this is what i was doing when i was in los angeles vegas i kept it as simple as possible we were looking at 15 20 minute charts and we had some you know ones that didn't work but the believe me folks there were some believers out there that said why haven't i seen this before i said well you have just it's not been explained the way that it should be and most people try to do it with elliott wave which i have a little difficulty with but only because i'm looking at one thing ab equal cd and as you can see the abcd here happens to be perfect up there at 4205 the high was 4206 but look at the number of bars this was just a 13 minute chart and 13 bars and look at this you had eight seven bars up and seven bars up exactly that's a perfect abcd now those don't happen perfectly only about 40% of the time the other 60% of the time it just keeps going straight up or it doesn't make the abcd but it could be a 1.27 a 1.618 expansion a lot of different things but when you've got them that line up just like this you know that that's your moment of truth of where you want to be when the market gets ready to possibly turn now if this would have gone up to 4210 it was certainly been a failure and you would have lost but right now you would have picked up a quick 10 points on it and i don't know whether it's going to where it's going to go from here but that's all i was trying to do was to show them these fractals and that's nothing more than the fractals that ben wan mandelbrot talked about he's the father of fractals you know garly did it too he didn't know it was a fractal but he knew the lightning bolt also known as guess what boys and girls ab equals cd and that's the one for me i keep it as simple as possible maybe a little bit too simple but you know complexity is trumped by simplicity and simplicity is the key thing that you want to be worried about in these markets because there's a lot of different ways to skin a cat and our ways to watch abcds and when they fail we move on to something else here is one in silver i wanted to bring this to your attention because we went sharply higher here in silver now this is several days old several days old and the reason why we were bringing this up is because you'll notice here this was the time where we were looking to be a buyer there was the i believe where was it we were right about uh we were looking for the market to come down to this level which it did but it didn't do it until that uh thursday and of course then it gave us these moves up here and that took us to above we hit twenty six ten today in the silver and then it backed off you know considerably so i was trying to show different things of different things they were of different commodity stocks ETFs and in a you know period of two and a half hours they would have kept me there another two and a half hours if they hadn't run us out of the room it would have been would have been interesting to look at but the one that i spent most time on was this chart of microsoft brought softy up because they were all talking about uh you know this uh this AI artificial intelligence stuff and whether i do it in the writings and i said i don't even know how to spell it a little bit but these were the abcd as you can see the first one perfect abcd and we also i i made them count the time between the a and the b leg to see that it was exactly equal in the a and there's a cd leg and they they they've not seen this before and then this one comes down like this and i brought a little bit of fibonacci in at that point and said when we get up here to this price level around 304 that this is probably going to be it well it hit 309 and i my trade was going to be i said you know selling around that 304 or better and or better today you would have been filled at 90 excuse me 30306 with a stop at 310 and so that's what i've been looking at and your price objective all i did on the price objective was measure what this swing did and i just moved it over to here and that gave you a 4 to 1 risk reward ratio that's what i brought in the picture of the old slot machine that i always talk about you know that when on slot machine it says right on the front of it you have no chance of beating me long term and i've taken in $1.2 million more than i've given out well when you're trading you're the slot machine you get to determine when you want to play and when you want to turn the machine off because you have to determine how much you're going to risk and that's what it's all about it's how much money you risk not how much money you make there's nothing you can do but there could be another announcement on artificial intelligence and this can think it opened $20 higher tomorrow and you could be a loser but there's control that you don't have any control over that's why the stop is in there but even with that you'll have times where you will get whacked because of an announcement that it just comes right out of the blue COVID something like that SAR something like that you know a piece in your crane anything could happen to make some of these things do that but if you look at this Microsoft chart folks this is the only gap this is one of the bigger stocks in the Dow look at this thing this doggone thing is just way up here and left a huge gap that's when the earnings came out and that is had to have a gap to get it up there but there's a lot of people buying up in here now if this market rolls over and if this market rolls over then that's when you want to be really interesting in selling it short because all the people that bought it over the last four or five days not going to be happy just like you know some of these people that stayed in those banking stocks for a long time but remember folks it's I'm going to say it one more time because it's what you live by it's not how much money you make folks it's how much money you don't lose because you're going to win if you eventually you're going to eventually find some good ones there's no question about it but if you lose all your money before that time you don't get to play the game too often so let's remind ourselves of that okay Mike Moore is going to be coming back for another segment when we get back from this but I wanted to bring one other one that is getting ready for a pretty good sale hold on one second if I can get it up here and that is the British pound and I want to hold on we'll get this right up here this is a long-term weekly but you know we've had this tremendous rally here and you talk about medical problems over there my guys the nurses are on strike they're the ambulance drivers are on strike I mean even if you die over there they're not going to pick you up I mean they're really serious about that kind of stuff at least here they'll pick you up and take you where you're supposed to be at least I hope that's where they're going to go but if we can get up here to this 127 level we're at 125 right now that's going to be really interesting one to do because we didn't stop very much at the 50 percent we backed off a little bit couldn't make a 382 retracement here on this low from that one and so we want to be watching this one really closely but right now the dollar has bottom the euro has topped and we're going to find out what it's going to have on the downside and that's where the pedal meets the metal and we're going to find out how we do it here's one that we've been waiting for acting really beautiful we we've been talking about it from the bullish side and today it is also strong moving up with the risk on stuff you'll see that we're probably heading up to that 139 level at least 138-139 in the dollar yen and that's pretty good hey let's take a break 877-927-6648 stay tuned for Mike Moore more analytics the gold report as a precious metal gold is still king it continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the london otc market the us futures market and the shanghai gold exchange the gold report tom obrien publishes his weekly gold report every monday morning for subscribers consisting of coverage of the xau hui gdx the dollar bonds the south african rand as well as 25 different mining equities with specific buy sell recommendations the gold report new subscribers get a 30-day money back guarantee so you have nothing to risk subscribe to tom obrien's gold report newsletter now at tfnn.com sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just dry tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m. to 4 p.m. eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors are you looking for a way to consistently add winning trades to your portfolio tom obrien is here to help tom obrien has been successfully trading markets for over 30 years a frequent contributor to td ameritrade network and cnbc tom obrien founded tfnn over 20 years ago to help educate investors just like you tom's daily market newsletter market insights is published every morning when the market's open to give you the competitive informational edge you need to succeed these newsletters are packed full of tom's advanced technical analysis and are geared to deliver comprehensive strategies for a successful portfolio get tom obrien's newsletter market insights today and try all of our products and newsletters 30 days risk-free with our money back guarantee at tfnn.com tfnn educating investors this segment is brought to you by think or swim for more information just click the think or swim banner on the front page of tfnn.com okay we're back folks and we've got mike more and more analytics on the line mike would you please continue yes sir thank you very much very thanks for having me okay let's take the uh let's do the s and p and then if you get a chance um we'll do the bonds and then we also want to do gold too and i'll be back in about 30 seconds i've got to do something with data because i've lost data and i've got to get it back so please continue and i'll be back in 30 seconds okay so looking at the s and p here uh just as a backup we held exhaustion above at 41 98 and quarter we rolled over 129.5 that was holding this exhaustion right here and rolling all the over down here now we had a target a little bit lower uh at 40 61 75 and we came just shy of that with the 40 68 75 low since we've taken out this high we did not make that target that suggests that this run up here is a last leg in the move up from uh 38 39 and a quarter and so i said this morning that i would be aware of key exhaustion areas above at 4205 75 to 33 and a quarter and 42 78 and a quarter to 40 to 90 75 and higher and you can see we are currently holding this lower one right here i'll blow this up a little bit for you you can see we held this at 4206 with a 4206 and a quarter high we're starting to roll over so we settle back down below this high 41 98 and a quarter that could start us into a bearish correction in earnest and that would be if if if one of these exhaustion levels holds the bearish correction should exceed 136.75 points now i've broken this exhaustion level up into two levels it's basically from 4206 i said to 42 33 and a quarter and then the next area is up up in here anyway so that if we do hold this we start rolling over we could see that level of a correction all right let's take a look at the gold the gold has been chopping around pretty hard lately just in this chop zone and most recently we broke them below a line that came through here which had taken off the chart we only saw some pressure here we pulled up to it here at pressure again and then we pop back above it and then we rolled back over so now we're in between two key lines one down below and one above which i would probably redraw right now just like this um like that but this is going to come over here so that upper one comes in at uh 2016 80 this morning minus 0.3 of a tick per hour starting at um that was eight o'clock this morning it's a little bit lower right now i'll tell you where it is those two lines come in right now at around uh 2015 10 to 2016 50 and decent break above there we'd probably project this upward at least 25 dollars uh to the upside and if we break below this lower line decently that would project this downward at least 25 to the downside so really just in this zone and uh looking to break out of it uh on some level i do think that overall we held exhaustion here rolled over we may hold one of these are these corrective exhaustion levels down here but i still think we do have one more uh significant push to the upside and that is also demonstrated by well let me just show you the weekly charts so in these weekly charts i do think we have a push back up through these highs here and we have not seen that yet and those highs are 20 89 20 etc and then we may hit one of these exhaustion levels up there but in the meantime we might see a short term correction before resuming another higher trade okay and then we'll take a quick look at the bitcoin the bitcoin we held exhaustion up here let me pull this over for you but we were in a lower time frame bearish correction against to move up from uh 19 5 20 i said the minimum target from 31 200 was 28 5 35 which we took out and then we held exhaustion down here below in this uh zone and bounced that was the 27 265 to 26 7 35 area we held that with the 26 980 low and bounced 3070 and so now we're in between two different formations so i said decent trade above 29 654 minus 5 per hour uh we'll project this upward 1200 minimum 2500 plus maximum and decent trade below 27 335 uh plus 1 per hour starting at 60 and we'll project this downward 2225 minimum 4200 plus maximum so and this is also a fairly sizable bearish formation so this really could just push this down for a number of days likewise if we were to take that formation out decently on the downside and back up through it decently i'd be out of all shorts i'd be long and then looking for a run possibly to take out the highs and keep on going not that it would be projected up there but the likelihood is much greater we take out this smaller formation here that's would have the the projections that i just just talked about okay larry does anybody have any questions believer in blockchains and bitcoin or do you have an opinion don't have a strong opinion that's just like mine i have no idea what they're talking about on that stuff but all right oh by the way i want to mention folks if you're looking for a great commodity broker mike and i use the same broker out of chicago and if you have an interest uh you know contact mike and he'll give him the name but uh he's uh bill is as good as it gets and he's been around a long time and he certainly helps mike a lot so uh he's a great person to work with please continue bill i mean mike sorry well i was going to say though i do it goes to whether i'm a believer in bitcoin futures or whatever or not i do think that they move toward a general currency worldwide is likely yeah just the way that everything's going interestingly and interestingly enough it talks specifically about that in the bible which was written 2000 plus years ago or whatever it actually speaks specifically to that which is kind of interesting that we're just whether or not you want to believe in that or not it's interesting that we're actually seeing that technology come to play right as we speak anyway so do you have any questions on the uh gold or the s&p or bitcoin or no i got a question about the thing in the bible i you know i'm a i'm a bible person what part of the bible is that in well it does say revelation that in the end uh if you do not receive this mark that you will not be able to buy or sell well you mean the triple six right and how how could how could one person be in control of whether or not other people are able to buy or sell unless they were in control of one way or that makes sense yeah i think it'd be a good way of washing all the drug money because they're not going to be able to spend it if it's worthless that's for sure well that's the way they're going to sell it to us yeah yeah that sounds like the right idea hey we'll take a break we'll be right back with mike more and more analytics sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent instruction from experts at tfnn you'll get advice and guidance from the authority and technical market analysis and it's not just tedious text either tfnn airs live financial content streamed live on tfnn.com and tfnn's youtube channel with tiger tv live every market day from 8 30 a.m to 4 p.m eastern for free each host is an experienced trader and gives their take on the market while taking calls and questions live from around the world from the moment the market opens until the closing bell sounds tiger tv has eight different shows with expert hosts to help you make the right moves with your money watch online at tfnn.com or on tfnn's youtube channel and become the investor you were born to be tfnn educating investors everything in the universe is governed by the fibonacci sequence this mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market to stay on top of stock patterns you can take advantage of sign up for the fibonacci 24 7 newsletter at tfnn.com when you subscribe 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summary prospectus contain this and other information about direction shares to obtain a prospectus or summary prospectus please contact direction shares at 866-476-7523 the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including the possible loss of principal the funds are designed to be utilized only by sophisticated investors such as traders and active investors distributor for side fund services LLC this program is brought to you by vista gold traded on the nyse american and tsx under the symbol vgz we're back folks with mike more more analytics mike we've had a request if you would go over the crude oil complex again like we did on the first segment because we're at such a critical level here and we're having such great volatility if you could run over crude oil gasoline and the heating oil again please okay and also we want to chat just a little bit about your program for auto trading i think that's important too so let's do the the crude oil complex first sure absolutely okay so again on 327 we left a um excuse me back up trade below 8088 as brought in 695 of pressure and then the moderate bearish reversal above is also brought in 575 of pressure from 7405 we also held exhaustion within that with the 7907 high and rolled over 514 then i said i'd be aware of possible exhaustion to contend with on the way down at 7397 to 312 by the way just for those of you viewing you can have two different types of exhaustion you can have extension exhaustion and you can have corrective exhaustion and these are the two different exhaustions that i'm usually alternating in between i do believe that since we left that significant moderate bearish reversal above i think that that could bring in continued further trade lower but within that on lower time frames you have the structure downward which may complete somewhere down in here see a correction up in here before rolling over does that make sense yes yeah it sure does okay and looking at the cracks down in here the cracks are what helps you identify which of these markets you should be short okay so for instance in the heating wall crack i said that the trade below 3859 projected this downward 110 minimum 365 plus maximum we've attained 1592 ticks so that's a far so um just for anybody following that that means basically being short the well you wouldn't have been short the heat the whole time but even in just this part down in here you would have made 12 grand more per lot being short the heat than you would have the crude oil so that's why to fluff to fluff over these spreads would be a gigantic mistake if you're trading the energies because they they they put out such a wealth of knowledge of how to make far more money trading the energies with your risk relatively being the same and the unleaded gas here too set up for a team we left a moderate bearish reversal above that wanted pressure for days we've seen 374 ticks and for those of you that don't understand the 374 ticks in a crack 374 ticks is the financial equivalent of 374 ticks in crude oil or three dollars and seventy four cents so it would be uh yeah three three thousand seven hundred forty dollars per contract and that's still projected to the downside so you're looking both of these cracks to decide um what what is weakest relative to the crude so here you know that the heat is weak relative to the crude because that's the front part of the contract you know that our bob is weak relative our bob being another word for unleaded gasoline is weak relative to the crude also and then you go back above and you look at this spread between the our bob and the heat to see which of those is the weakest and lately our bob has been stronger than the heat so that means if you line all these up the heat should be the weakest the our bob would be in the middle and the crude would be the strongest relative to the other products that's not direction that's not directional um and just this is one here right so anyway you want to go to did you want to look into the our bob itself and see yes i would because i i'm i'm not familiar with the gasoline contract as much as i am heating oil and the crude and from my i would like to hear your input on that if you don't mind okay yeah so the gasoline we held exhaustion at 282 86 high and rolled over 35.54 cents so far into a medium time frame bearish correction or trend against the move up from 232 and if any of you really want to understand what that means financially um you can just take that and go 35 54 times 0.42 and that'll give you the amount of crude ticks that that move us to the downside so we've seen $14,920 of a move from here down does that make sense yeah because the gasoline is is priced per gallon whereas the crude oil is priced per barrel and there's 42 gallons per barrel so you just take whatever that figure is and times it by 0.42 right now we're popping up above this formation right here which suggests we'll probably see some strength um and likewise a failure back down below that would warrant a renewed pressure probably to take out these lows and seek out some of these exhaustion levels down below um and the heating oil uh that was the one i i said was really leading the downside really seeing a lot of pressure in here and now we've been holding under this really key area right in here that i talked a little bit about earlier that comes in here at 238 20 to 239 88 and we have not been able to get above there yet described up to 239 43 yesterday looks like we're trying to push up against it again today but if we got back above there and settled above there that would warrant a some decent shore covering probably for a couple of days that would be a warning to me to be out of all my shorts for the time being and then we would have to see where this corrects to to the upside okay my assumption is it would probably be a bullish correction on a lower time frame basis that would probably then resume a new bearish structure and if i'm wrong then it could mean that it's just a new bullish trend but the way that you play that is you'd be out of your shorts you'd be long and then you'd be taking shots at any exhaustion levels on the way up paying for the trade and then reestablishing your position if you're off does that make sense or did i yeah it makes perfect sense yeah it's once you once you read it to me like that i can understand it okay one other thing that i'd be i pay attention to is the crude oil curve so this is just the june june the june d spread this is a six month spread and we had held exhaustion up here which was one of the initial signs that that move was over it didn't show that hand in the outright but the june d stood if you go back over some of our past shows larry you'll see that i called this area and then we took up this format this formation here saw pressure and then down in here held exhaustion that was one of the first signs that the downside might be over so now i think we're in this bullish correction against this move down before slash if resume lower trade again and this is even more effective when you look at the dc spread i'm just not looking at the dc spread because it's too far out at this point you got any other questions no those are those are just pretty much spot on listen i want to thank you uh if you if you have time on friday maybe you could do a segment to see where we are because you've uh you've really had some great calls here we want to see how this unfolds for the rest of the week so maybe if you're free on friday we could have you on for for a short segment thank you all one last thing is the uh auto trade programs we're collecting interested parties on those so if anybody's interested just fill out a form and send it in appreciate it more analytics dot com yep okay we'll see you friday thanks a lot for joining my friend thank you thank you very appreciate it thank you everybody else for watching we'll be right back folks eight seven seven nine two seven six six four eight if you're looking for potential trading setups in the stock market then rocket equities and options report is a newsletter you should try tom yo brian delivers options and equity trades when the markets present them using a combination of fundamentals and technicals sign up for rocket equities and options report today with a 30 day money back guarantee so you have nothing to risk for all the details and to start your subscription today visit the front page of tfnn.com tfnn educating investors you might think that if you want to be successful at trading in the stock market you're going to need a crystal ball after all it's impossible to predict the future right like any endeavor in life before you decide it's impossible get some advice from the experts you might find that it's not so impossible after all for daily market overviews that give you direction on the key indices 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professional trader and educator founder of tfnn also a special guest on cnbc tom will bisect and dissect the markets the tom o'brien show next on tfnn okay we're back folks and we have a question from someone in texas austin steve we're going to take a look at ung for you um we've only got a few minutes here but we're certainly going to be able to do that in a few minutes god willing and she usually is hold on here one second we'll get this up here and that's ung i know i've got it in here because you have asked before and also other people have and i'm almost there ung and there it is i move down here to the daily we had a pretty good correction here uh oh gee this doesn't even look like it's trading compared to the natural gas that i'm looking at let's blow this up a little bit so we can see it yet we just had a nice garly form steve i'm going to draw it on here to show you because this is uh this is an etf and it's only it's uh six bucks so it just completed a really nice garly i'll bring this up so you can see it and then what i'm going to do is tomorrow i'm going to make myself a note and make sure that i put up the regular natural gas contract because this etf is um it's a well you can imagine here trading at six dollars and some it's just i don't like to do it uh well let me try it again well let me see if i can put the chart up again they're saying the charts not coming through and we're going to try it one more time get it up here and that'll see where we are here maybe this it but see it's it's only trading for six dollars and seventy nine cents and so we'll do a big one on the regular natural gas it had a big sell-off today we broke about twenty bucks i believe almost twenty dollars down from 237 down to 220 and change i believe and that uh was the first big correction we've had the last few days but i'll do an update on that i'm writing a note right now that when we get ready for this uh on tomorrow's show the very first thing we're going to do for you steve is we're going to cover the natural gas contract and try to relate it to the futures um what we look at and how it relates to un ung so i hope that helps anyway listen live every day in an attitude of gratitude and may god bless and do something nice for your neighbors folks because there's a lot of people out there uh that are having a whole lot of trouble i saw more homeless people in las vegas and i've seen